< Back to blog

House of Commons to debate extension of Stamp Duty Holiday Posted On 18 January 2021

 

Big week ahead for home buyers as the Chancellor considers a Stamp duty holiday extension

 

A petition to extend the Stamp Duty Holiday for an additional six months has reached over 110,000 signatures, and the House of Commons has now confirmed that there will be a debate on the issue.

 

The Chancellor Rishi Sunak is currently considering an extension despite other reports to the contrary over the weekend. This will be a welcome relief to buyers, sellers, agents, conveyancers and sales progressors who are dealing with delays in the sales process.

 

The current deadline of the 31st March is only 10 weeks away, and with the average sale currently taking 16 weeks to go through, it is unlikely that its effects will be felt for much longer, and for those currently going through the process it is a very stressful time.

 

Sunday Times political editor Tim Shipman says the upcoming Budget on the 3rd March is unlikely to produce permanent changes to property taxation but he warns the treasury is considering long-term radical options including the possibility of scrapping SDLT completely.

 

This week will be a big week for many families who are already in the process of buying a property and if an extension comes through expect a huge sigh of relief from everyone involved and a probable upturn in sales agreed much like the boost that happened last year when the Stamp Duty Holiday was initially started.

 

For all the latest up-to-date news regarding the property market and the Stamp Duty Holiday, please like and follow our social media page.

< Back to blog

Connect with us

Recent Posts

Wake Up and Smell the Coffee

Sip your Favourite Beverage this Coffee Week   The UK’s Coffee week begins on Monday 18th October this year and is a period where coffee shops, restaurants, roasters, and their customers come together to raise funds for Project Waterfall – a charity working to end the water crisis in coffee-growing communities across the world. By …

Read more...

Does your Home Still Suit Your Needs?

Deciding whether to stay or Go Deciding to move house is an exciting, if somewhat daunting, decision. Identifying your ‘why’ is crucial when you start to sense that niggling feeling that has your trawling Rightmove to find your next home. Feeling cramped is one of the most common driving factors when deciding to move. We …

Read more...

House Prices Growing Month on Month

Annual growth of 10% for the past five Months Wondering whether to take the plunge and list your property for sale? If you’re looking to get the best possible price for your home, now is the time to act. According to Nationwide’s House Price Index (HPI) UK house prices have seen a growth of at …

Read more...

National Work Life Week

11-15 October 2021   The secret to a work life balance seems to be on everyone’s lips at the moment. The change in the way many are working and the way our homes are transforming into home/office hybrids has changed the outlook employees and employers have on work life balance in a positive way.   …

Read more...

International Chocolate Week

14-19th October   Is there any better smell to fill a house than the aroma of melted chocolate? The rich, tantalising scent draws in chocolate lovers young and old. The 14-19th October marks International Chocolate Week, the perfect excuse to celebrate this festival and fill your home with chocolatey goodness!   Why not kick off …

Read more...